World Bank will not support new coal power plant in Kosovo

11/10/2018 09:03 Coal

news

President of the World Bank Group Jim Yong Kim confirmed that the international organization will not support a coal power plant in Kosovo.

The Kosovo government stated in 2015 that the Ministry of Economic Development reached an agreement with the World Bank and US company Contour Global that would pave the way to a contract for building the plant.

 

In 2016, the World Bank told BIRN that they would only support the project after all relevant environmental, social, and technical analyses were conducted, and after consultations with the public and other shareholders.

 

After the Kosovo government signed a 1.3 billion euro-worth contract with Contour Global, the Kosovo Civil Society Consortium for Sustainable Development, KOSID, said that “the project would undermine Kosovo’s European future,” and that the government should work on developing efficient energy in Kosovo.

 

 

Due to the high cost of its construction, if the plant were to be built, Kosovo citizens would have to pay 50 per cent more for their energy bills, and that there would be a significant impact on the environment due to the burning of lignite as fuel.

 

Prime Minister of Kosovo Ramush Haradinaj said earlier this year that the plant had to be built despite environmental dangers, in order to produce energy locally.

Source: prishtinainsight.com

Daily (16.01.2019): Brent crude jumped by 2.8% on Tuesday due to China’s potential fiscal stimulus

16/01/2019 11:13:00

Oil prices jumped on Tuesday as China plans to implement fiscal measures aimed at stabilizing country’s slowing economy. Moreover, output cuts by OPEC and Russia also boosted prices. Brent crude rose by 2.8% to 60.64 USD/bbl, while WTI crude was up by 3.2% settling at 52.11 USD/bbl

<READ MORE

Russia’s Looks To Build ‘LNG Island’ To Supply Booming Asian Market

16/01/2019 09:25:00

While Russia’s gas giant Gazprom is working to complete the Power of Siberia gas pipeline expected to begin delivering gas to China in December 2019, another Russian company—the country’s biggest liquefied natural gas (LNG) producer Novatek—is looking to boost LNG supply to the growing Asian market.

READ MORE

Equinor to drill seven new wells at Gullfaks to recover even more resources

16/01/2019 09:22:00

Norwegian oil and gas major Equinor and its partners have decided to drill seven new wells at Gullfaks field located offshore Norway and improve oil recovery by 17 million barrels.

READ MORE